Could LA's exodus happen here? (Atlanta, Columbus: mortgage, how much, house)

[JPD]

It's completely irrelevant how expensive it is in LA/SF, etc. if you're a long time Atlantan. How expensive a city is is relative. Relative to Atlanta prices historically, Atlanta is now MUCH more expensive that it has ever been. That is enough to drive some people away, and the fact that it's still cheaper here than Boston doesn't mean a thing.

[fourthwarden]

Originally Posted by JPD

It's completely irrelevant how expensive it is in LA/SF, etc. if you're a long time Atlantan. How expensive a city is is relative. Relative to Atlanta prices historically, Atlanta is now MUCH more expensive that it has ever been. That is enough to drive some people away, and the fact that it's still cheaper here than Boston doesn't mean a thing.

The Atlanta Metro's housing price index is at an all time high, and our inflation-adjusted index has us on the way towards surpassing our max inflation-adjusted value in a few years.

Atlanta doesn't really have a good equivalency to the LA->LV move as far as savings in cost of living, but given the way things are going you have to wonder when that'll become more of an option.

Those who think we can't ever be in that position, especially given the current trends and policies in place, should look more at what's happened to those cities who didn't allow themselves to properly absorb the growth.

[AUGnative]

For a major metropolitan area Atlanta is quite affordable. Yes, when you compare Atlanta with smaller southern cities it will seem the cost of living is a more expensive.. but Atlanta is a bargain when compared to other large metro areas in the country. You cannot even compare Atlanta and LA in terms of cost of living..you could have a nice midtown condo for what a hovel in a far flung suburb in LA will cost you. It's even worse in the Bay area and NYC. Atlanta is also far more affordable than DC, Seattle and Miami.
Now there are exceptions. Dallas Fort-Worth and Houston tend to be a bit more affordable than Atlanta. This is partly due to Texas not having a state income tax, and in Houston in particular zoning laws are almost nonexistant so it allows for more affordable housing in the city core.
Sure you can live in Augusta or Macon for much cheaper than Atlanta.. but where would you work and what kind of money would you make?

[sedimenjerry]

Originally Posted by JPD

It's completely irrelevant how expensive it is in LA/SF, etc. if you're a long time Atlantan. How expensive a city is is relative. Relative to Atlanta prices historically, Atlanta is now MUCH more expensive that it has ever been. That is enough to drive some people away, and the fact that it's still cheaper here than Boston doesn't mean a thing.

But there are still people that will be moving from those super expensive coastal cities to cheaper Atlanta.
Ultimately it'll come down to jobs. If there's enough jobs and the economy is strong, people will still move here even if some will leave. We have a long time til we're another NE city that's too expensive. An Atlanta salary still goes pretty far.

[bu2]

Facts for those in denial:
https://www.expatistan.com/cost-of-l.../north-america

Atlanta is #28 with an index of 155 (NYC is #1 at 236) in North America with only Chicago ahead of it who is not on the coasts. Charlotte is #50 at 141. Cincinnati is #62 at 137. Detroit is #98 at 120.

[2Easy]

Originally Posted by JPD

It's completely irrelevant how expensive it is in LA/SF, etc. if you're a long time Atlantan. How expensive a city is is relative. Relative to Atlanta prices historically, Atlanta is now MUCH more expensive that it has ever been. That is enough to drive some people away, and the fact that it's still cheaper here than Boston doesn't mean a thing.

Here’s my take. Most people that live in Atlanta can afford to buy a home. Anyone making the median income in Atlanta can afford to purchase 2/3 of the available homes. That’s pretty affordable.

The median income in LA is lower than Atlanta (we have lots of poor people and unskilled immigrants). The median income in LA only affords 9% of the available homes. Essentially half the people that live in LA have no hope of ever affording a Home. Yeah some can’t afford Atlanta or may feel that they get more for their money somewhere else, but the large majority can afford to live there. That’s not the case in LA.
https://www.nahb.org/en/research/hou...5DBD8500B83896

[zulu400]

Originally Posted by jsvh

It depends if we can avoid California's NIMBY habit of killing most new housing developments:

The great American single-family home problem | Atlanta Business Chronicle & New York Times

I second this.... I moved from NY, probably comes a close 2nd to CA on NIMBYism, I already see that here to some extent related to MARTA expansion and Mixed housing initiatives.

Having said that, People have been "leaving NY too in droves" for years.... BUT the last I checked.... the traffic over there is the worst ever....

Everything has a feeder system, the imbalance happens over a period of time and is directly related with jobs. Just jobs.
NYC -> feeds Long Island housing.... If 50% jobs move out of NYC, long island will crash and burn.

To improve quality of life, the only thing needed here is to reduce commute time, we got everything else, and what we don't... will come....

Eg: One thing I miss is concerts.... looks like everyone is bypassing ATL.... sucks.

[ATLTJL]

One thing I miss is concerts.... looks like everyone is bypassing ATL.... sucks.

How long have you been here?

This is a relatively new phenomenon that a lot of us have also noticed over the past year or two.

[NC2ATL60]

Originally Posted by bu2

Atlanta isn't like the east and west coasts, but it is vastly more expensive than rural Georgia. Its also more expensive than anyplace other than Chicago between the coasts.

Its probably already at the level to drive a few people to the Nashvilles and Charlottes.

You do realize that Nashville and Charlotte are almost just as expensive as Atlanta yet much smaller. Why anyone would move from Atlanta to Nashville based on costs is beyond me, when they would be in a metro area that offers less things to do and cost around 2-3% less. I guess traffic is a better reason even though theirs is nothing to write home about either.

[AUGnative]

Originally Posted by NC2ATL60

You do realize that Nashville and Charlotte are almost just as expensive as Atlanta yet much smaller. Why anyone would move from Atlanta to Nashville based on costs is beyond me, when they would be in a metro area that offers less things to do and cost around 2-3% less. I guess traffic is a better reason even though theirs is nothing to write home about either.

Agreed. There is not much of a dimes worth of difference between cost of living in Nashville and Atlanta.. Charlotte is also not far behind.. neither is Raleigh. Those cities are also about half the size of Atlanta's metro area. I guess if you live in Atlanta and think it is just too expensive your only real options are going to the 2nd and 3rd tier cities.. Columbus, Macon, Augusta, Albany, Chattanooga, Huntsville, Greenville, SC... but then you are no longer living in a major metro area, with all of the jobs and quality of life amenities that affords.
Likely if you live in one of these second tier you can find cheaper housing in a rural small town.
It's called downsizing